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<h1>Lal Chand Agro Research Institute Gains Approval for Scientific Research Under Section 35(1)(ii) of Income-tax Act 1961</h1> The Lal Chand Agro Research Institute in New Delhi has been approved under section 35(1)(ii) of the Income-tax Act, 1961, for scientific research purposes. This approval, effective from April 1, 1986, to March 31, 1987, requires the institute to maintain separate accounts for research funds, submit annual returns of its research activities by April 30 each year, and provide audited financial statements by June 30 annually. Additionally, the institute must apply to the Central Board of Direct Taxes three months before the approval's expiry for renewal. Failure to apply on time may result in rejection.